Since this year, public funds have continued the momentum of large-scale dividends. As of March 17, the cumulative dividends have exceeded 72 billion yuan, surpassing the level of the same period last year. Among them, equity funds have become the main force of dividends.
Public funders said that the positive dividend of equity funds since this year is related to the position management strategy of fund managers, and can boost the confidence of the people. At present, the valuation level of A-Shares has returned to a reasonable range, which is a good time for medium and long-term layout.
equity fund component red main force
According to the data, as of March 17, a total of 1007 funds (counted separately for different shares) have implemented 1176 dividends since 2022, with a total scale of 72.755 billion yuan. In the same period last year, 698 funds paid dividends of 71.212 billion yuan.
Different from the previous situation in which the debt base accounted for the majority, equity funds have become the main force of dividends since this year. Data show that since this year, partial stock hybrid funds have accumulated dividends of 23.74 billion yuan, ranking first among all fund types, accounting for nearly 1 / 3 Together with the dividend scale of flexible allocation funds and passive index funds (RMB 11.62 billion and RMB 4.873 billion respectively), the cumulative dividend of the three types of funds reached RMB 40.233 billion, accounting for 55.3%. Since this year, the dividends of medium and long-term pure debt funds have reached 21.805 billion yuan, accounting for nearly 30%.
Many popular funds are generous, and hundreds of millions of “red envelopes” are not uncommon. Specifically, since this year, 143 funds have paid dividends of more than 100 million yuan, of which 13 have paid dividends of more than 1 billion yuan. Hou Hao managed the business of A Baijiu liquor in the year of 2 billion 890 million, ranking first. Ge Qiushi’s e fund value selection ranked second with a dividend scale of 2.095 billion yuan; The dividend scale of Wells Fargo Trina, Southern Blue Chip growth a and Boc International (China) Co.Ltd(601696) Jiahui regularly opened is more than 1.8 billion yuan.
boost the confidence of the people
Analysts said that the fund dividend is one of the important ways to give back to investors. There are generally two ways of fund dividend: cash dividend and dividend reinvestment. If the market is high, choosing cash dividend can reduce the weight of stock asset allocation and partially realize the safety of falling into the bag. If you choose the way of dividend reinvestment when the market is low, you can have the effect of compound interest growth.
A public offering person in Shenzhen said that since this year, the equity market has fluctuated greatly, and the generous dividends of equity funds may be related to the position management strategy of fund managers. Generally speaking, if the fund manager is cautious about the market expectation, under the premise of not significantly reducing the position (equity funds generally have a lower limit on the position and basically do not allow short positions), the fund cost can be reduced through dividends and the loss can be reduced to a certain extent.
Equity fund manager Chen Bin (pseudonym) told the China Securities Journal that since this year, the market volatility has intensified, and the net worth of many equity funds has retreated greatly. How to deal with large-scale redemption and stabilize the confidence of the people can not be ignored, and dividend is one of the methods. “A fund I manage is going to pay dividends next. I suspended large subscription in advance, mainly to prevent new funders from coming in and dilute the dividend scale of the original funders.”
medium and long term layout opportunities
Chen Bin said that after substantial adjustment, the current A-share valuation level has returned to a reasonable range, and the future market is not pessimistic. At present, it is a good time for medium and long-term layout. Penghua Fund said that at present, the overall cost performance of the A-share market is prominent, and the subsequent downward space is limited. The short-term trend of A-Shares is expected to stabilize and has entered a carefully selected layout time point.
For the technology track, Feng Mingyuan, manager of Taurus fund and deputy general manager of Cinda Aoyin fund, said that we should look at the invested industry from a long-term perspective, intervene in areas with strong industry development certainty and share its growth dividend. For example, in the new energy vehicle industry, from the perspective of the next two years, the demand for new energy vehicles may still maintain a high growth trend. In addition, he was also concerned about the expansion of production this year, involving technical maturity, environmental protection, energy consumption and other issues. “We need to screen the segments and focus on the investment targets with high competitive barriers, output links and good supply and demand pattern.”
For Baijiu sector, Hou Hao, the fund manager of the liquor business fund of Zhong Zheng Baijiu, pointed out that the business performance of the -2 companies in January was higher than expected from the recent core liquor companies’ disclosure. This has strengthened market confidence. Under the expectation of steady economic growth, consumption resilience is strong. Time stretch, in the consumer upgrading and industry concentration trend, Baijiu sector still has better allocation value.
“From past experience, high-quality leading stocks have outstanding advantages in robustness, certainty and growth. Investors should pay close attention to the evolution of the geographical situation and the catalysis of the performance expectation of the first quarter report to the sector. Most wine enterprises have strong certainty in the growth of performance in the first quarter, and the valuation of the sector is cost-effective.” Hou Hao said.
